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Securities firms get in-principle nod

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Finance minister Aun Pornmoniroth leads a Wednesday SECC meeting. SECC

Securities firms get in-principle nod

The Securities and Exchange Commission of Cambodia (SECC) has recently approved in principle a handful of applications for licences.

The categories of the licences include central counterparties, derivatives brokers, fund managers, trustees and financial advisers.

In a Wednesday press release on the minutes of an SECC meeting led by Minister of Economy and Finance Aun Pornmoniroth, the securities regulator said it had approved in principle Golden Fortune Derivatives Exchange Co Ltd’s application for a central counterparty licence.

M M Foreign Exchange Co Ltd, NYFX Co Ltd and YAI Trading Co Ltd received in-principle approval as derivative brokers, while Rai Capital (Cambodia) Co Ltd, JB Phnom Penh Asset Management Plc and Royal Group Funds Co Ltd have been approved in principle as fund managers.

Cambodian Investors Capital Partners Plc and AU Reits Co Ltd have been given the preliminary nod for licences for additional business operations.

SF Capital Co Ltd has been given the in-principle green light as a financial adviser, while Cambodian Derivatives Exchange Co Ltd has been given the in-principle nod to trade additional products.

SECC director-general Sou Socheat on Tuesday said it is striving to increase awareness of the securities sector among Cambodia’s enterprises.

Speaking at a seminar on securities market potential for business sustainability in the Kingdom, he said: “Listing on the Cambodia Securities Exchange enables them [companies] to raise financing, while strengthening corporate governance [and] sustainability.”

There are currently 13 listed firms in the Kingdom – seven stock-listed and six corporate bond-listed. The 13 companies have raised a combined $253 million, CSX data show.

CSX’s market capitalisation rose to $2.57 billion as of June 30, 4.5 times higher than the same date last year.

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